Toronto-based company Axial3D, a provider of patient-specific 3D imaging solutions, has secured USD 18.2 million in its latest funding round. The round comprises repeat participation of existing investors, which are Techstart, Innovation Ulster Limited, and business angels of Northern Ireland, and the US.
It also has follow-on investment from Clarendon in addition to the membership of 57 Stars, Whiterock, and Innovate UK. 57 Stars invested USD 10 million, becoming the largest stakeholder in Axial3D. This new funding will assist the company to speed up its goal of performing patient-specific surgery globally.
The Role of Creativity in Achieving the Transformation
The new investment was warmly welcomed by the CEO of Axial3D, Roger Johnston. Maccoll also stressed that the funds would let Axial3D grow its patented technology suite that helps medical device businesses, imaging firms, and hospitals improve the utilization of infinitely accurate 3D data to the patient’s benefit.
He also stated that their AI technology can bring benefits in terms of patient-specific applications by reaching millions of patients around the world in robotics, planning, and devices.
Business Tycoons Not So Pessimistic about Growth
The new investors have positive expectations about Axial3D. Speaking about Axial3D, McGuire, the Managing Director of 57 Stars, said that the technology was inspiring as it would help to revolutionize the method of delivering personalized care.
Mr. Neil McCabe, Director of Whiterock, also expressed the same idea when he said that through Axial3D, Whiterock is poised to enhance availability and precision in surgery around the world.
